Overview:

The global de-aromatic solvents market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. De-aromatic solvents are the hydrocarbon solvents having no aroma. These solvents have low volatile organic compounds and are considered as less toxic than conventional solvents. The de-aromatic solvents have wide applications in meta working fluids, paints and coatings, adhesives and sealants, printings inks, and others.

Market Dynamics:

Rapid industrialization in emerging countries is resulting in high demand for paint and coating materials, coupled with manufacturers approach towards the development of aroma free coating materials are major factors driving growth of the global de-aromatic solvents market. Also, manufactures are using de-aromatic solvents as an alternative to traditional solvents such as mineral or white spirits to develop aroma free coating materials is another factor expected to support growth of the target market.

In addition, increasing focus on the production capacity enhancement among key players in order to serve the growing demand for household insecticides and mosquito repellants materials is expected to result in growth of the target market over the forecast period.

However, factors such as fluctuating raw materials prices and stringent government regulation related to product approval are expected to hamper growth of the global de-aromatic solvents market. Government authority in many countries is imposing stringent regulations on the products that have adverse effect of health.

Key Trends:

Strategic business development activities through merger and acquisitions in order to increase the customer base and enhance the product portfolio is the recent trend observed in the global de-aromatic solvents market. For instance, in August 2019, Total S.A. and Occidental Petroleum Corporation have announced decision of acquisition of Anadarko’s assets in Africa for a consideration of around US$ 8.8 Bn.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific de-aromatic solvents market is expected to hold major market share and maintain its dominance throughout the forecast period. This is owing to increasing demand for de-aromatic solvents from various end use industries such as adhesive and sealants, paint and coating, metal working, and others. In addition, rising inclination of key players towards developing countries due to easy availability of raw materials and low cost labor is expected to support the market growth in Asia Pacific region.

However, the Europe holds second largest market share followed by the market in North America region in the global market. Rising focus of key players on market expansion activities in countries in these regions is expected to support target market growth over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global De-aromatic Solvents Market, By Flash Point:

• Low Flash Point
• Medium Flash Point
• High Flash Point

Global De-aromatic Solvents Market, By Boiling Point:

• Type 1 (<185⁰C)
• Type 2 (185⁰C – 240⁰C)
• Type 3 (>240⁰C)

Global De-aromatic Solvents Market, By Application:

• Paints, Coatings, and Inks
• Metal Working
• Industrial Cleaning
• Adhesives and Sealants
• Drilling Fluids
• Consumer Products
• Other Applications

Key Players Covered:

Key players operating in the global de-aromatic solvents market include, ExxonMobil Corporation, Royal Dutch Shell Plc., Total S.A., Idemitsu Kosan Co., Ltd., Neste Oyj, Raj Petro Specialties P. Ltd., Avani Petrochem Private Limited, Isu Exachem Co. Ltd., DHC Solvent Chemie GmbH, and Calumet Specialty Products Partners, L.P.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global De-aromatic Solvents Market by flash point, boiling point, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global de-aromatic solvents market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.